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UBS Cuts Add To Job Gloom

London Operations
Expected to Take Hit;
Rallying Bank's Troops

By

Katharina Bart, Goran Mijuk and

Nisha Gopalan

Updated May 6, 2008 12:01 a.m. ET

The fretful City is bracing for more bad news, this time via Zurich.

Swiss banking giant UBS is expected to unveil another round of job cuts Tuesday that are aimed at restructuring the investment bank. Analysts expect UBS to slash some 4,000 to 5,000 jobs around the world, with many of the cuts coming from the fixed-income unit, centered in London and New York. Particular concern reigns in London, where the bank could eliminate as...